Rx.Health CEO and cofounder Ed Berde recently sat down with Enterprise Radio host Eric Dye to discuss his current work, as well as past ventures, in an effort to relay advice to aspiring entrepreneurs. Berde discussed how he embraced an alternative career path early in his career, which began when he made the decision to leave the comforts of a highly respected consulting firm to pursue his first venture.
Berde also offered insight into how Rx.Health differs from his past ventures from the perspective of an entrepreneur, starting with the credibility associated with the company’s roots in the Mount Sinai Health System, which has seven hospital campuses in the New York metropolitan area.
“Rx.Health already had some serious advantages at the outset that any entrepreneur would immediately recognize,” Berde said. “In the healthcare industry, establishing credibility is everything. It’s kind of a catch 22 for entrepreneurs. They’ll never get into health systems without landing a major health system first, but you’ll never land that first major health system because you’re not in any health systems already.”
Berde extended an invitation to new entrepreneurs who are seeking advice to reach out through LinkedIn so that he can talk through the classic struggles of an entrepreneur and field any questions where he can offer expertise.
Berde’s interview was featured on Enterprise Radio broadcast by the Entrepreneur Podcast Network on Monday, Dec. 18.
Leveraging technology to advance remote patient monitoring (RPM) has the potential to unlock efficiencies for clinicians in the areas of patient outreach, identification of at-risk patients, an improvement in care initiatives. A recent article featured in MedCity News not only highlighted these potential benefits but also detailed CMS’ current and suggested future efforts to support RPM.
The article advocates for the removal of the existing barriers actively preventing the widespread adoption of digital technologies as a means to better care. Medicare reimbursement for telehealth and remote patient monitoring technologies totaled just $28.75 million in 2016, less than 3 percent of CMS’ annual budget. Despite the statistics, CMS has taken an important first step in recognizing the value of RPM technologies.
In November, CMS announced that it will support and reimburse providers using remote monitoring technologies in 2018. In furtherance of these efforts, CMS will unbundle and activate CPT code 99091 (collection and interpretation of physiologic data) from the traditional chronic care management programs. This will allow provider reimbursement for time spent collecting and analyzing health data that is generated by patients, digitally stored, and transmitted to the providers. Further, CMS should recognize the equipment, facilities, non-physician medical staff, and technologies that are required to drive these innovations to scale and provide robust reimbursement for these services.
Given the trends in the healthcare market, and CMS’ reaction to those market forces, healthcare organizations should start adopting RPM technologies to benefit from these regulatory incentives. Such incentives will continue to grow as healthcare providers further embrace digital solutions and CMS recognizes the benefits of those technologies to patient populations, particularly in underserved or remote areas.